Silk Energy Ltd SLKEF

RE: What happend to the Texan - Victor

[victor2009]

Maroons,

The information on SEDI shows that Allen Mann directly and indirectly controlled 2,539,165 shares at the time of his initial filing 2008-06-24. It shows no share acquisitions or disposals since that date.

Inspiration [and doingthejob] like to point out that the option granting does not involve an outlay of cash. It is interesting to get another perspective on option granting, by viewing the SEDI information and seeing how some of the insiders have fared on the option transactions. My reading is that the 200,000 shares Adrea Capital and Mrs. Miller sold in May 2007 at prices from $5.88 to $7.59, were acquired at an average price of 22.5 cents on options exercised within the prior five months. Seems that even if it cost ISM nothing in direct cash - it still was a nice supplement for the prior year's service to the company!  The MD&A reports have gone to some length saying that the options may expire, and that yhey involved no cash outlay. There never seems to be any explanation of how the insiders have, or might, profit on exercise of these options. I would question why a executive who is guiding a company that has shown very disappointing results,  deserves options on top of a $382,500 annual fee and a multi million dollar separation agreement.